Sichuan Road & Bridge to cancel incentive shares

Sichuan Road & Bridge Construction Group Co., Ltd. (SSE:600039) announced it will proceed with the repurchase and cancellation of 2,224,320 restricted shares initially granted under its 2019 and 2021 equity incentive plans. The decision follows forfeiture conditions being triggered for 35 incentive recipients. The cancellation, approved at the 50th meeting of the 8th Board of Directors, is scheduled for March 6, 2025, and will reduce the total number of shares outstanding to 8,710,039,485. The company has fulfilled notification requirements to creditors. Legal counsel has deemed the repurchase and cancellation process compliant, pending final registration and capital reduction procedures. The company has confirmed there are no further outstanding restricted shares from the 2019 plan, and 28,686,000 from the 2021 plan.